Peaking Japan Ferrous Scrap Export Price

Japanese ferrous scrap export is peaking for South Korean buyers. The export price is around FOB 34,000 yen per tonne for H2 grade for Hyundai Steel, according to Japanese sources. The firm increases the import price to around 34,500 yen depending on the volume. The price keeps the level since late March.

US scrap exporters’ offer is more than CFR US$ 470 per tonne for South Korea. Japanese dealer said Japanese scrap price increased the level for South Korean buyers while Japanese scrap export price was much lower than US scrap before.

Scrap dealers’ purchase price is FAS 32,500 yen per tonne around Tokyo bay. The price reached FAS 33,000 yen in late March but the price decreased by 500-1,000 yen in early April. The scrap shipping from Tokyo bay is firm while some Japanese dealers expect the price could peak depending on the export market.